J.P. Morgan Scores A Mortgage Victory

A federal judge dismissed a significant portion of a fraud lawsuit against J.P. Morgan Chase & Co., a victory for the largest U.S. bank by assets as it tries to fend off a series of legal headaches tied to mortgage securities that soured during the financial crisis.

The two-page order issued Tuesday by U.S. District Court Judge Jed Rakoff threw out a majority of claims made by European bank Dexia SA, which said in January 2012...